Sunday, October 12, 2014 – 16.33 h
Natural Gas will launch a bid to seize control of Chilean General Electric Company ( CGE ). Previously, energy chaired by Salvador Gabarró has reached an agreement with the principal shareholders of the Chilean company, which own 54.19% of the capital. This is the Group Family Marín Almeria Group Family Group Pérez Cruz .
Upon termination of the operation is will amount to 2,600 million euros. Natural Gas expected to close the transaction during the second half of November. The total size of the operation, including the consolidated CGE debt and minority interest of its subsidiaries, is approximately 6,000 million euros.
The acquisition of Natural Gas will be the largest international purchasing operation carried out by the Spanish energy multinational in its history and also the biggest purchase of a utility Latin America .
Natural Gas , this transaction represents a key strategic milestone because it allows you to enter the energy market Chile from a leadership position, through the company’s main distribution of electricity and gas in the country, with more than 2.5 million customers and distributes electricity to 40% of the Chilean market, including part of the capital Santiago de Chile.
With the acquisition of CGE, the Spanish energy multinational will be in the energy business in seven of the nine largest cities in Latin America and in the five mainland capital cities (Bogotá, Buenos Aires, Mexico City, Rio de Janeiro and Santiago de Chile).
The transaction is another step in meeting growth targets in the strategic plan of Natural Gas as it strengthens its position in gas and electricity distribution in Latin America.
From financial point of view, the operation does not alter the financial strength of the company and accelerate the achievement of the objectives committed in the 2013-2015 strategic plan, assets and businesses by providing high quality.
CGE is the head one of the most important integrated energy companies in the country. Concentrated most of his activity in the electricity and gas company sector in Chile (from Arica to Puerto Williams), Argentina (four provinces) and Colombia (26 of the 32 districts in the activity distribution of liquefied petroleum gas).
In the electricity market, the company is responsible for the distribution of 40% of electricity and meets the demand of 43% of consumers in Chile, with over 2.5 million customers and is the first operator high voltage network with a market share of 35% and more than 3,400 kilometers of lines.
It also has a direct stake in Gasco, one of the three major distributors licualdo gas (LPG), with 27% market share, and Mertrogas, the main gas distributor in the country with more than 580,000 customers, and ensures a strong position in the market for liquefied natural gas (LNG) through its participation in the terminal Quintero.
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